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This is Bob Larson with the Market Line Report for Thursday July 20th. Weather is still the word on the trading floor Wednesday. From the floor of the CME in Chicago, here’s Alan Knuckman …

Knuckman ... “As you well know, it’s all about the weather. That’s what’s driving this market and that’s what’s driving some of us mad as well, So, well in the near term, we’re expecting some wet weather and looking at the forecast here in Chicago, for those people that are going to near festivals, it’s looking like wet and storms. So, we’ll have to wait and see, but that’s why we’re here. In the bigger picture, they’re talking about the next couple of weeks out is going to be dryer and warmer and so maybe that’s why we had a bit of a pause in the market. But, in the big picture, you have to be aware that this is the crucial time for the pollination and the maturation which is a little bit behind schedule because of the planting season.”

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 3 ranging from 5-18 to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 6 ¼ ranging from 5-70 ¼ to 5-95 ¼ DNS wheat with 14 % protein, prices for August were up 8 ½ ranging from 8-75 ½ to 8-95 ½

Live Cattle for August were up $2.20 at 117.45 Aug Feeder cattle were up $2.90 at 154.95 Aug Class III milk was dn $.10 cents at 16-55.